Take Profit: I recommend to take profit at risk-to-reward 1.5 (total risk *1.5) or better.

Example

As seen on the EUR/USD 1 hour chart above, price breaks and closes below support while the MACD indicator trades in negative territory (below 0). We open a short trade at the close of the candle at 1.2803 with stop loss placed 5 pips above the blue dots at 1.2845. Total risk on this short trade: (Stop loss level - trade entry level (42 pips). Take profit level: total risk *1.5 = 63 pips (1.2740)

Another Example

As shown in the chart above, we had 3 valid short trade entries. Entry 1 at 1.2845 with stop loss placed at 1.2865 and 30 pips profit target, Entry 2 at 1.2803 with stop loss at 1.2803 and 63 pips profit target, and finally Entry 3 at 1.2712 with stop loss placed at 1.2726 and 21 pips profit target. All trades were profitable for a total of 114 pips in only 3 trading days.

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